What exactly are we to make of this: Economy won’t stop Obama’s priorites, aides say. Apparently, being broke doesn’t mean you can’t spend like a drunken sailor…except that is exactly what it means. With China just announcing its own $586 billion stimulus package, the spigot of foreign savings that’s been flooding the leaky government trough is about to dry up at exactly the same time that all those tiny pin-pricks, like social security and medicare, are showing signs of imminent rupture into gaping holes.
What I think this means is that the Obama administration will attempt to accomplish through regulation the goals it might have preferred to pursue via spending. Bureaucratic rationing will be the order of the day. I’m sure everyone will be much more satisfied with the results.
I can only hope that Obama will be too busy playing the Dutch boy that he won’t actually be able to spare a finger to hold down the knot of red-tape he’s planning on using to bind up our economy.